News by theedgemalaysia.com

UEM Sunrise Bhd will be exiting the South African market with the proposed disposal by its indirect wholly owned subsidiary UEM Sunrise South Africa Proprietary Ltd of an 80.4% stake in Roc-Union Proprietary Ltd and claims of total shareholder advances worth 118.4 million rand (RM29.5 million).

IOI Properties Group Bhd closed its financial year ended June 30, 2023 (FY2023) with net profit doubling to RM1.39 billion from RM686.74 million in FY2022, thanks to a 26% increase in operating profit in its property investment portfolio and a fair value gain that contributed RM716.8 million, while revenue was largely unchanged at RM2.59 billion.

Several real estate developer stocks caught investors’ interest in Monday (Aug 28) morning trade, following Putrajaya’s unveiling intention to turn Johor’s Forest City, developed by China’s beleaguered Country Garden, into a special financial zone.

It also posted higher unbilled sales of RM3.8 billion as at June 30, versus RM3.6 billion as at Dec 31, 2022.

Co-working and flex space provider WORQ officially launched its seventh co-working space in Menara UOA Bangsar, Kuala Lumpur last Friday (Aug 25).

More catalytic developments will likely shift to the vicinity of the Malaysia-Singapore Second Link as there is more land and well-developed infrastructure and connectivity, said RHB Research in a note on Monday (Aug 28).

Berjaya Land Bhd (BLand) returned to the black with a net profit of RM148.8 million for the year ended June 30, 2023 (FY2023) on the back of higher revenue, after three consecutive years of losses.

Kerjaya Prospek Property Bhd's net profit for its first financial quarter ended June 30, 2023 (1QFY2024) was flat at RM21.79 million or 5.89 sen per share, against RM21.72 million or 5.50 sen per share a year ago.

Cagamas Bhd on Friday (Aug 25) signed a memorandum of understanding (MOU) with the Mortgage Refinancing Company of Uzbekistan (UzMRC) to exchange knowledge and experience in developing viable housing finance models for the growth of the secondary mortgage finance market in Uzbekistan.

The Shah Alam High Court has extended Berjaya Corp Bhd (BCorp) founder and adviser Tan Sri Vincent Tan's restraining order against Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor over alleged defamatory remarks the politician made concerning the Selangor Maritime Gateway (SMG) project.